All posts by NTSI Publishing Team

Business, Cardiff

Growing Welsh PR agency makes senior appointments

Leading Welsh PR and marketing agency Effective Communication has promoted two longstanding staff members to director roles to help drive further growth while maintaining the very best service delivery.

 

Effective Communication, which was established by Alastair Milburn in 2004 and supports organisations with their PR, marketing and digital communications, has promoted Katherine Kennedy to operations and people director and Rhys Gregory to commercial director.

 

PR specialist Katherine joined Effective in 2012. In her time at Effective, she has worked on countless client campaigns and has latterly played a vital role in shaping the business as it looks ahead and continues to adapt its service offering to reflect changing habits and platforms.

 

Katherine said: “In my new role I will be responsible for overseeing the day-to-day operations of the business and ensuring that we deliver for our clients, while supporting and developing our extremely talented team.

 

“We were recently shortlisted as Employer of the Year at the Cardiff Business Awards and this is some recognition for all the hard work we’ve put in to make sure that Effective is a great place to work.”

 

Rhys, who specialises in digital marketing and communications, also joined Effective in 2012.

 

Rhys said: “When I first started at Effective we were in the very early stages of developing the social media and digital side of our business. Since then, the digital arm of the business has grown to such an extent that it is now a major component of our offering.

 

“Effective as a business is constantly evolving and, in many ways, it is hardly recognisable as the company I joined in 2012. It has been very gratifying to work alongside Alastair and the team to help the business grow and evolve.”

 

Alastair Milburn, managing director of Effective Communication said: “As we approached our 20th anniversary in the third quarter of 2024, it felt like the perfect time to take stock of the business, assess all that we have achieved to date, and consider what we want to do next. My ultimate goal is to continue to build a business that is sustainable, resilient and thriving, and Katherine and Rhys are integral to those plans.”

 

Effective was founded in 2004 by the then South Wales Echo editor Alastair Milburn.

 

For more information about Effective Communication, visit www.weareeffective.co.uk

Accountancy, Accountancy & Accounts, Wales

Less than 1 in 5 accountants have positive view of UK economy

  • New member survey from leading global accountancy body ACCA reveals only 14% of UK accountants have a positive outlook on the economy.
  • UK SME business confidence also fell sharply in Q3, following two quarters of improvement previously.

 

New survey data from ACCA (the Association of Chartered Certified Accountants) today reveals that just 14% of accountants have a positive view of the UK economy.

 

With less than one in five accountants feeling upbeat about the UK’s economic situation, ACCA is calling on the government ahead of the budget to ensure that measures are announced to promote improved confidence in the economy and amongst its members.

 

The government has previously stated that getting the UK economy back working is the ‘number one priority’. However, with 86% of accountants taking either a negative or neutral view of the current economic situation, it’s clear there needs to be decisive action announced to kickstart growth and investment, as well as restore confidence amongst accountants.

 

In addition to this, ACCA’s Global Economic Conditions Survey (GECS) reveals that UK SME business confidence fell sharply in the last quarter, bringing it to the lowest level since Q2 2023. These results are a marked contrast to the improving economic data so far in 2024, likely reflecting business concerns about the policy and tax implications of the upcoming Budget.

 

Lloyd Powell, head of ACCA Cymru/Wales, said: “The fact that less than a fifth of ACCA members have a positive view of the UK economy shows the stakes are high for the upcoming budget, with businesses needing to get clarity and confidence from the announcements.

 

“ACCA has welcomed recent announcements, such as tackling late payments and corporate governance regulation, and is encouraged by the early changes being introduced by HMRC. Our accountants have made it clear they are looking to the Chancellor to announce incentives for business to invest in boosting growth and productivity that we have called for constantly.

 

“We also need the government to remove barriers that are completely under their control, such as the failing HMRC where 89% of ACCA accountants say poor service levels are seriously affecting their ability to work effectively and deliver basic compliance services to clients.”

 

The survey also revealed that the top three greatest challenges facing businesses and organisations today are economic confidence (71%), skills and labour shortage (59%), and management costs (49%).

 

Powell added: “We know our members want to do the best job possible for their clients and organisations. ACCA hopes that the Chancellor takes the opportunity to outline business-first ways of working that will help power up the economy and encourage confidence in investment.”

 

Speaking on the fall in business confidence, Glenn Collins, head of technical and strategic engagement, ACCA UK, said: “The Chancellor has rightly warned about the tough decisions ahead, but the government should be concerned about the impact this is having on economic confidence. Despite an improvement in the capital expenditure index in the GECS survey, it remains low compared to its historic average. For the industrial strategy and upcoming budget, the government needs to present a positive approach to business to generate the investment and growth needed.”

 

Visit ACCA’s website for more information.

Acquisitions & Partnerships, Business Expansion

Premier Forest Products Grows Presence in South West

Premier Forest Products, a leader in the UK’s timber and timber products industry, has announced its latest acquisition with the purchase of a specialist producer of bespoke staircases.

 

Established in 1988 and based in Westbury, Wiltshire, Stairway Joinery Ltd designs and manufactures bespoke staircases for residential and commercial buildings.  With a strong reputation for excellence, Stairway Joinery Ltd is renowned for its skill and craftsmanship in creating individually tailored solutions for its clients.

 

Terry Edgell, Co-founder and CEO of Premier Forest Products, said: “The acquisition of Stairway Joinery Ltd is the perfect fit for Premier Forest as we continue to expand our presence in the south west of England.

 

“The addition of bespoke staircases to our portfolio of products strategically complements the Premier Forest customer offer, helping us to better serve residential and commercial markets. We are confident that the synergies this partnership yields will benefit our customers, while strengthening our market position as a specialist timber solutions provider.”

 

Darren Smith, previous Co-owner of Stairway Joinery Ltd, said: “It is with great pleasure that I can announce we are joining Premier Forest, who are such a powerhouse in the industry. The modernisation opportunities that will come from being part of such a forward-thinking group will enable us to grow our business and I’m excited to see what the future holds.”

 

Robert Houkes, previous Co-owner of Stairway Joinery Ltd, said: “I’m very proud of our achievements over the past thirty-six years. We have developed a successful business in a niche market and can now continue our journey with the backing of a thriving, like-minded company. With Premier Forest’s patronage and support, our business will continue to flourish.”

The deal was structured and completed with the support of Acuity Law providing legal counsel, Gambit Corporate Finance who supported the Premier Forest team throughout the deal process, and Kilsby Williams accountants, who conducted financial due diligence.

 

Premier Forest Products is a vertically integrated timber operation engaged in the importation, processing, merchanting, and wholesale distribution of timber and timber products from its multiple sites in the UK.

Banking, Business, Business Finance, Cardiff, FInance, Finance and Banking

UK drops out of Global Pension Index top 10

The UK has dropped out of the top 10 of the Mercer CFA Institute’s Global Pension Index.

The index compares 48 retirement income systems around the world using more than 50 indicators, with a particular focus on adequacy, integrity and sustainability.

The research’s primary aim is to benchmark each retirement income system, but it also highlights areas of reform which could provide greater trust in the pension system of each country as well as increased sustainability and improved benefits.

The UK’s pension system has been ranked as the 11th best system in the world with a value of 71.6, dropping one place since 2023 and out of the top 10. The Netherlands, Iceland and Denmark retained their top three spots for another year.

The index reports that the value for the UK system could be increased by further increasing the coverage of employees and self-employed in private pension schemes, restoring the requirement to take part of the benefit as an income stream (ie not allowing individuals to take all of their retirement savings as a lump sum) and increasing the scope and contribution levels required under auto-enrolment.

Stuart Price, Partner and Actuary at Quantum Advisory, said: “It is disappointing to see the UK’s pension system slip out of the top 10 of the Global Pension Index this year. Its ranking places it as a ‘B’ grade system within the index, suggesting that the system has a sound structure and many good features but that there are clear areas for improvement and reform.

“The state pension only provides 22% of an individual’s average earnings, so private pension saving, whether in defined benefit, defined contribution or collective defined contribution schemes, is crucial to allow people to retire with a decent level of income and at a reasonable age.

“All employers must provide a workplace pension scheme or arrangement and automatically enrol employees into it. Auto-enrolment has worked to a degree but would benefit from further reform which could improve the UK’s index ranking. The number of individuals saving for their retirement has increased substantially since auto-enrolment was introduced in 2012, with 76% of the working population contributing to their pension schemes.

“However, auto-enrolment could be extended to include younger workers from age 18, lower earners and the self-employed, in addition to increasing the total contribution rates from 8% to at least 12%. Following a review in 2017 which received royal assent in September 2023, plans are in place to lower the age of eligibility for auto-enrolment but frustratingly no date has been set to introduce this legislation.”

Business, Cleaning & Facilities Management

Mrs Buckét goes back to school

Following the news that some local authorities in Wales are ending their school cleaning services, many schools are turning to commercial cleaning providers, like fast-growing commercial cleaning company Mrs Buckét

Mrs Buckét is celebrating after securing contracts with seven local schools across south Wales: Ysgol Glan Morfa, Oystermouth Primary School, Stacey Primary School, Dylan Thomas Community School, Ysgol Gyfun Gŵyr, Ysgol Treganna and Christ the King Catholic Primary School.

Headquartered in Swansea, Mrs Buckét was founded by Rachael Flanagan in 2005 at age 18, and has since grown to employ over 400 staff, with a turnover of £8 million. Their recent development of a training academy for colleagues and investment into innovation through new technologies has redefined the cleaning sector and allowed them to expand into new markets.

Rachael Flanagan, CEO and Founder, Mrs Buckét, said: “I am incredibly proud of the hard work of the team at Mrs Buckét that has led to the achievement of these contracts. Unfortunately, far too many schools are operating in ineffective conditions due to lack of care when it comes to cleanliness. Every child has a right to learn in a safe and clean environment so that they can enjoy and focus on their studies, and I look forward to providing our services to achieve this.

 

“We have already had fantastic feedback from the current schools we work with, and we plan on implementing our attentive and responsive approach while providing meticulous attention to detail to ensure a pristine and conducive learning environment.”

 

Paul Davies, Headteacher at Dylan Thomas Community School, said: “Mrs Bucket has really innovated, bringing in some wonderful ideas, and they far exceeded our expectations in what we thought we could achieve with the cleaning facilities team.

 

“They genuinely care about the school, and they want to deliver the best possible cleaning service for the kids and the staff, and that really shines through. We really should have got them in a long time ago.”

 

Mrs Buckét offers a free schools cleanliness audit for schools to provide a personalised report, find out more here.

Accountancy & Accounts, Accounts and Accountancy, Business, Business Finance, Finance and Banking

ACCA sets out how accountancy profession can meet the nature reporting challenge

Report sets out accountant’s vital role in protecting and restoring the natural world

 

​​​Accountants must understand the concepts, principles, challenges and opportunities of nature-related reporting to engage with boards and management on this increasingly vital issue.

 

The global accountancy body ACCA has issued a ​paper Empowering business: navigating nature-related reporting, designed to assist accountants supporting organisations to undertake nature-related reporting and drive meaningful action to tackle the sustainability-related challenges.

 

​​Jessica Bingham, regional policy ​​​l​​​​​​​ead for ACCA​ and the report author, said: “Nature is the foundation for all life on Earth​,​ and our research suggests that an overwhelming number of organisations do not effectively assess and communicate their impacts and dependencies on nature.”

 

Organisations are increasingly disclosing their impacts and dependencies on nature, especially with the advent of the Corporate Sustainability Reporting Directive in Europe. The International Sustainability Standards Board (ISSB) has​ recently announced​ that it plans to carry out ​​research into biodiversity, ecosystems and ecosystem services as part of its work plan over the next two years​, with a view to developing global reporting standards​. ​         ​

 

These changes will require accountants to increase their knowledge in this area. ​A ​​c​ore​ element of ​​reporting ​these ​​matters is​ ​setting out​​ an organisation’s material nature-related impacts, dependencies, risks and opportunities and underpins interconnections between the natural, social and human capitals.

 

The ​key messages in​​​ the report will be discussed by Jessica Bingham at COP16 on biodiversity in Colombia 21 October​ ​-​ ​1 November​, including​​​ a panel discussion with standard setter the Global Reporting Initiative, credit agency S&P and biopharmaceutical company AstraZeneca.   ​​

​

​ACCA’s ​​​​research​, ​​in​ collaboration with​ Glasgow University​,​ found that 95% of the 183 early adopters of ​disclosures recommended by ​The Taskforce on Nature-related Financial Disclosures (TNFD) have policies or commitments to halt and ​reverse​ biodiversity loss.

 

However​,​ only 35% have policies and commitments informed by 2030 and 2050 global diversity frameworks (GBFs). Organisations that are already working with accountants on Task Force on Climate-related Financial Disclosures (TCFD) are giving themselves a head start in developing nature-related reporting​,​​ making themselves more ​resilient​ and managing their impact on nature​.

 

The rise of nature-related reporting is ​an opportunity for individual accountants and the profession across strategic planning, value creation, risk management, regulatory compliance, partnership development and decision making processes.

 

Lloyd Powell, head of ACCA Wales/Cymru, said: “Nature-related reporting is increasingly recognised as an essential component of organisational reporting. The role of accountants in this domain is pivotal in driving sustainable business practices and ensuring long-term financial health and environmental stewardship.”

Apprenticeships, Education, Energy

CES announces new apprenticeship programme

Leading energy efficiency company, Consumer Energy Solutions (CES), has announced it will be offering a two-year apprenticeship in NVQ Level 3 in Insulation & Building Treatments.

 

In contrast to regular apprenticeships, Swansea-based CES will be paying National Minimum Wage per age bracket to ensure fair compensation as the apprentices develop their skills and experience to accelerate their careers.

 

In addition, to improve accessibility, CES will provide an Internal Wall Insulation Apprentice Starter Kit to all apprentices, including PPE, key tools and storage items, as well as offering a £25 per night stay-away allowance.

 

The two-year course will start by covering comprehensive safety training and basic insulation techniques, before moving on to hands-on experience and soft skills development. In their second year, apprentices will aim to enhance their technical skills, work more independently and prepare for certification, if applicable. Modules will include quality control, project involvement and leadership and cost management.

 

Ben Strinati, Insulation Director at CES said: “We are thrilled to be offering this apprenticeship in NVQ Level 3 in Insulation and Building Treatments. It’s a fantastic opportunity for young people across south Wales to kickstart their career in renewable installation by learning the core skills and techniques to become a skilled professional in the insulation industry.

 

“We are honoured to be able to offer our support in providing apprentices with key equipment through the Internal Wall Insulation Apprentice Starter Kit and our overnight expense coverage, as well as paying all apprentices the National Minimum Wage. We want our learning opportunities to be as accessible as possible and leave our apprentices ready for the world of work. With our support options, we hope this opportunity will reach a wide range of young people, and we encourage anyone who is looking to kickstart their career to apply.”

 

CES has its headquarters in Swansea with permanent bases in south Wales, north Wales, west Wales and Exeter. It currently operates 42 teams of insulation installers, each of which includes carpenters, dry-liners, plasterers and multi-skilled installers, alongside eight dedicated loft insulation teams.

 

The company is committed to providing comprehensive training for all staff and arranges regular manufacturer training programmes and seminars to ensure installers are up to date with frequent regulation reviews and advancement in technology. Basic training starts with an NVQ qualification in construction and building treatments with further learning based on the energy efficiency measure and the method of installation. Additionally, all operatives receive annual training in the latest health and safety regulation, promoting a safe installation for themselves and customers.

Business, Business Investment, Business News, Cardiff, Cardiff News, Events, South Wales, UK, Wales

Cardiff Capital Region announces return to MIPIM 2025, the world’s leading property investment event

Cardiff Capital Region (CCR) officially launched its MIPIM 2025 Partnership Programme today at the Pyramid Suite, Sophia Gardens ahead of the international event in Cannes, France, 11-14 March 2025.

Hosted by CCR’s Chief Executive Kellie Beirne, with special guest Dame Nia Griffith, Parliamentary Under Secretary of State at the Wales Office, the launch brought together private sector guests and public sector partners across the ten local councils that make up the Region.

Cllr Mary Ann Brocklesby, Chair, Cardiff Capital Region Committee, and Cllr Huw Thomas, Deputy Chair, Cardiff Capital Region both spoke at the event, highlighting the importance of attending MIPIM and how it enables the Region to showcase opportunities to investors and property developers from all over the world.

In 2025, CCR will be situated with other UK City Regions at La Croisette on the seafront, an important strategic move that sees the Region partner with other core UK destinations, whilst also retaining its own unique Welsh identity.

Dame Nia Griffith said:

“The UK Government’s key mission is economic growth and Cardiff and the surrounding area have a vital role to play in that mission. That is why we have invested in Cardiff Capital Region.

“Their attendance at this globally renowned exhibition is a fantastic opportunity to showcase the best of what our capital city has to offer to international investors. By working together we will encourage investment into Wales.”

Cllr Mary Ann Brocklesby, said:

“I’m delighted to see South East Wales represented on the international stage of MIPIM once again. Our presence shows we are serious about our ambitions and the critical role that inward investment plays to drive inclusive growth and prosperity, in collaboration with the private sector.”

Cllr Huw Thomas, added:

“Our city is at our best when we work in partnership, and especially so when we are showcasing our businesses on the global stage, and we’re excited to be returning to MIPIM in 2025 to show what Cardiff, and the region, has to offer. On a number of measures, we’re growing faster than other cities across the UK, and we want to make sure that success continues, supporting more and better jobs for our communities across the city and the Cardiff Capital Region.”

 

Considered the world’s leading global real estate event, ‘Marche International des Professionals d’Immobilier’ (MIPIM) attracts more than 20,000 participants each year, including 5,000 investors, 4,800 developers, and 500 journalists.

Accountancy & Accounts, Accounts and Accountancy, Research

Accountants face new era of ethical challenges

New research reveals that top three areas for ethical challenges are leadership, culture and sustainability – and that ethical dilemmas are becoming more complex

Professional accountants, long trusted as custodians of financial integrity, are facing a new era of ethical challenges amid a rise in business scandals and evolving expectations. 64% of respondents said that ethical dilemmas have become more difficult to resolve in the past three years.

 

A report from the world’s leading professional accountancy body ACCA (Association of Chartered Certified Accountants) published to mark Global Ethics Day, highlights the evolving nature of ethical challenges and the increasing complexity of ethical dilemmas in accountancy. The new era of ethical challenges for professional accountants is based on over 1,100 responses from 135 countries.

 

The findings reveal that 55% of accountants have witnessed unethical behaviour in their career
and almost one in four (24%) have been put under pressure to behave unethically in the last
three years. In addition, the results revealed that more men have experienced ethical pressure than women: 27% of males have been put under pressure to act in an unethical way, compared with 19% of females.

People were asked to name their top three areas for ethical challenges over the past three years. The top results were:

  • leadership and culture (40%)
  • AI and technology (32% and 26%)
  • sustainability (30%)

 

Globalisation, driven by technology, is facilitating businesses to expand across borders – which in turn creates new ethical challenges emerging due to regional variations including cultural,

legal and economic factors. While the drivers of complexity in ethical dilemmas are broadly

similar globally, the research underscores the importance of considering local factors in

promoting and enforcing ethical behaviour.

 

By contrast, the nature of where we work has also transformed during this time. With people often working remotely, and individually while part of a team, when ethical challenges do arise, they’re potentially resolving them in a different way.

 

The research also highlights key areas for senior leadership to address in the near future. These include: mental health and wellbeing, professional competence and continuous learning, technology and data ethics, ethical leadership and governance, diversity, equity and inclusion and sustainability reporting.

 

Report author, Sarah Lane, head of ethics and assurance at ACCA, said: “These insights
underscore the need for robust ethical leadership and culture in organisations, and ongoing
learning and development to support professional accountants in navigating these challenges in today’s evolving landscape.”

 

Read the full report.

Accountancy, Accountancy & Accounts, Accounts and Accountancy, FInance, Finance and Banking, Politics

Accountants praise government for promising action – but more still to be done

  • In the first 100 days the government has taken some positive steps but significant barriers to economic growth and increased productivity remain
  • Proposals to late payments, corporate governance regulation, and local authority audit backlog all welcomed as announcements

 

As Keir Starmer’s Labour party celebrates 100 days in office, global accountancy body ACCA (the Association of Chartered Certified Accountants) calls on the UK government to stay focused on the key priorities to boost economic performance and business growth, and to be clear on this vision to boost optimism.

 

Just over three months since Labour’s decisive victory at the 5 July General Election, ACCA is encouraging the new government to stick to its priorities of putting economic growth at the heart of its agenda for the country.

 

Glenn Collins, head of technical and strategic engagement at ACCA UK, said: “We have seen some encouraging signs that the new government’s Treasury and business team understand the worries of the business sector and the concerns that we hear consistently from our 100,000 UK based members.

 

“We want them to build on the foundations that they have set out and we will continue to hold them to account.”

 

ACCA reports that members support the government’s emphasis on growing the economy, and ACCA welcomes moves over the first 100 days including:

 

  • Action on late payment which ACCA has consistently called out as a blight on the growth prospects of small business.
  • The appointment of a government minister as chair of HMRC board. ACCA hopes James Murray’s appointment will result in further investment in HMRC and strengthen delivery, particular around HMRC service levels which continue to be a major drag on business effectiveness.

 

  • The King’s speech announcement of long promised regulation on corporate governance including placing the planned new regulator, the Audit, Reporting and Governance Authority (ARGA), on a statutory footing and setting out clear expectations and accountability for boards, management and auditors.

Lloyd Powell, head of ACCA Cymru/Wales added: “The government needs to build on progress to date and to build confidence. Business confidence is low with many highlighting uncertainty and challenges in their day-to-day work. We feel the government has a critical month ahead to provide to business insight on industrial strategy at the upcoming International Investment Summit, and to see this clarified further at the Autumn Budget.”

 

Visit ACCA’s website for more information.